WT Asset Management Ltd Makes New $14.75 Million Investment in Zoom Video Communications, Inc. (NASDAQ:ZM)

WT Asset Management Ltd acquired a new position in Zoom Video Communications, Inc. (NASDAQ:ZM - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 180,700 shares of the company's stock, valued at approximately $14,747,000. Zoom Video Communications makes up about 1.6% of WT Asset Management Ltd's investment portfolio, making the stock its 16th biggest position. WT Asset Management Ltd owned about 0.06% of Zoom Video Communications as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the business. FMR LLC grew its position in shares of Zoom Video Communications by 23.8% during the 3rd quarter. FMR LLC now owns 12,444,887 shares of the company's stock worth $867,906,000 after buying an additional 2,395,396 shares during the period. Eagle Asset Management Inc. bought a new position in shares of Zoom Video Communications in the 3rd quarter worth $62,038,000. Assenagon Asset Management S.A. grew its stake in shares of Zoom Video Communications by 126.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,251,302 shares of the company's stock worth $102,119,000 after purchasing an additional 699,625 shares during the period. Nordea Investment Management AB increased its holdings in Zoom Video Communications by 202.8% in the fourth quarter. Nordea Investment Management AB now owns 779,051 shares of the company's stock valued at $64,054,000 after purchasing an additional 521,778 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its stake in Zoom Video Communications by 6,614.6% in the third quarter. International Assets Investment Management LLC now owns 499,966 shares of the company's stock valued at $34,868,000 after buying an additional 492,520 shares during the period. Institutional investors own 66.54% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Sanford C. Bernstein increased their price target on shares of Zoom Video Communications from $78.00 to $89.00 and gave the company a "market perform" rating in a research report on Tuesday, November 26th. Wedbush started coverage on Zoom Video Communications in a research note on Thursday, October 17th. They set an "outperform" rating and a $85.00 price objective on the stock. Needham & Company LLC restated a "hold" rating on shares of Zoom Video Communications in a report on Friday, January 10th. Benchmark lifted their price objective on Zoom Video Communications from $85.00 to $97.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Finally, Stifel Nicolaus lifted their price target on shares of Zoom Video Communications from $70.00 to $90.00 and gave the company a "hold" rating in a research note on Tuesday, November 26th. Sixteen investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $89.10.

Insider Transactions at Zoom Video Communications

In other Zoom Video Communications news, COO Aparna Bawa sold 9,317 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $78.69, for a total transaction of $733,154.73. Following the completion of the sale, the chief operating officer now directly owns 14,053 shares in the company, valued at approximately $1,105,830.57. This trade represents a 39.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Eric S. Yuan sold 83,333 shares of the business's stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $83.50, for a total value of $6,958,305.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 382,242 shares of company stock worth $31,230,938. Corporate insiders own 10.78% of the company's stock.

Zoom Video Communications Stock Down 0.7 %

Shares of ZM stock traded down $0.57 on Friday, reaching $86.12. The company had a trading volume of 1,826,091 shares, compared to its average volume of 2,158,431. The stock has a market capitalization of $26.39 billion and a PE ratio of 28.71. The business's 50-day moving average is $83.18 and its 200 day moving average is $74.33. Zoom Video Communications, Inc. has a one year low of $55.06 and a one year high of $92.80.

Zoom Video Communications Profile

Zoom Video Communications, Inc provides unified communications platform in the Americas, the Asia Pacific, Europe, the Middle East, and Africa. The company offers Zoom Meetings that offers HD video, voice, chat, and content sharing through mobile devices, desktops, laptops, telephones, and conference room systems; Zoom Phone, an enterprise cloud phone system; and Zoom Chat enables users to share messages, images, audio files, and content in desktop, laptop, tablet, and mobile devices.